Empowered Patient Podcast Developing Recurring Revenue Health and Wellness Products and Services to Optimize Patient Experience and Build Loyalty with Matt Cronin House of Kaizen
Matt Cronin, Founding Partner of House of Kaizen, discusses how patients' changing healthcare expectations are shaped by their experiences with products and services such as Netflix and Amazon Prime. Consumers now expect a longer-term relationship and personalized experiences with their healthcare providers. House of Kaizen emphasizes the importance of building better customer experiences in health and wellness to improve health outcomes and create more value for businesses. In the age of AI, the importance of trust and brand reputation is paramount. Healthcare providers, as the trusted source of information and a filter for web-based searches, play a crucial role in this landscape.
Matt elaborates, "We're a specialized consulting firm for recurring revenue products and services. We build loyalty and advocacy for better lifetime value through customer experience optimization. We do this for all kinds of businesses that operate on a recurring revenue model, which includes many products and services in the health and wellness space. It's a space we've been working in for over 20 years. It's an area where we see a ton of leadership but also a ton of potential in understanding a longer-term customer journey. A true relationship, as opposed to a singular point with the transaction, actually can be a real advantage and an opportunity to set yourself apart from the competitors in the market space."
"When it comes to health and wellness, we have, of course, the healthcare scenario where people have recurring relationships with their physicians, they have recurring relationships with the healthcare systems in which they operate with their insurance companies. But they also have recurring relationships with the products that they may use, like software technology or hardware technology, the news and information that they consume related to their health and wellness, as well as replenishable products like the foods, drinks, supplements, medication, all of those things can make up their portfolio of health and wellness that is a long-term relationship."
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